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Costello: Greece among leaders in implementation of RRF

Costello: Greece among leaders in implementation of RRF

Greece is among the leaders in the speed and quality of implementation of Recovery and Resilience Fund (RRF) programs, said the European Commission’s Deputy Director General for Economic & Financial Affairs Declan Costello on Thursday, speaking at the 26th Annual Economist Government Roundtable.

It is critical, he added, that Greece submits payment requests to the RRF within the time schedules, and that it ensures a continuous flow of funding, as this will send a “strong signal to markets and investors.”

Regarding Greece’s financing thus far, he said that 6.1 billion euros (or 3% of GDP) has already been transferred to Greece, and he pointed out that “we are working with the [Greek] government so that in September another €1.7 billion will come, and another €3.5 billion will follow at the end of year.” At the same time, the European official warned that “Greece must avoid the mistakes of the past, when the administration stopped working during the pre-election period.”